Egypt reviews progress on IPO programme

Egypt’s Prime Minister Mostafa Madbouly on Tuesday reviewed the latest progress of the IPO programme of public firms during a meeting with key ministers and officials.

PM Madbouly reaffirmed the government’s commitment to sustaining the programme, highlighting significant opportunities for public enterprise sector companies, whether through public offerings on the Egyptian Exchange (EGX) or sales to strategic investors. He noted that the government is working with specialised institutions to enhance the efficiency of state-owned companies, strengthen governance standards, and ensure competitive neutrality to maximise returns on state-owned assets.

The Prime Minister also stressed the importance of expanding private sector participation in the economy, adding that the programme follows a set timeline based on company readiness and market conditions.

The meeting reviewed companies already listed, those expected to be offered this year, and others under preparation across various sectors. The prime minister emphasised the need to continue the IPO programme to expand the ownership base on the EGX, attract investment inflows, and diversify offerings across different economic sectors.

The IPO programme aims to strengthen the state’s ability to meet financing needs, boost private sector involvement, and increase its participation in public investments in the coming years. Officials underscored that its continued implementation would support efforts to empower the private sector and drive economic growth.

Attribution: Amwal Al Ghad English

Subediting: M. S. Salama